Reference no: EM131578668
Question - Mat Corporation's actual manufacturing overhead cost for the month ended March 31 was $78,000. The company's predetermined overhead rate was 50% of direct labor cost. Other information pertaining to Mat Corporation's inventories and production for the month of March is as follows:
Beginning inventories, March 1:
Work in process - $40,000
Finished goods - $102,000
Direct materials cost - $104,000
Direct labor cost - $160,000
Ending inventories, March 31:
Work in process - $36,000
Finished goods - $105,000
Required:
a. Determine the underapplied or overapplied overhead for the month.
b. Determine the Cost of Goods Manufactured for the month.
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